Smartphones, TVs, Laptops to Get Costlier: Up to 30% Price Hike Expected

• Prices of smartphones, TVs, and laptops are projected to increase by another 4-8% in the next two months, following a 21% rise in November-December.
• The primary cause is a global chip shortage, intensified by high demand for memory chips due to AI, leading to skyrocketing manufacturing costs.
• Leading brands like Vivo and Nothing have already raised phone prices by Rs. 3,000-5,000; Samsung is reducing discounts and cashbacks.
• TV prices, already up 7% in November, are set to increase by another 10% this month and 4% in February due to chip scarcity affecting production.
• The All India Mobile Retailers Association (AIMRA) predicts up to a 30% total price increase for mobile phones, potentially causing a 12% decline in smartphone sales by 2026.

Why It Matters: Consumers face significant price hikes on electronics due to chip shortages, AI demand, and currency fluctuations.